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MRF’s standalone income stands at Rs 19304 cr

10/05/2022 at 5:11 PM

MRF

Mumbai, May 10: MRF’s standalone total income is Rs 19304.43 crore for the year ended 31st March 2022, as compared to Rs 16128.58 crore in the previous year.

The standalone profit before tax stood at Rs 879.16 crore for the year ended 31st March 2022, as against Rs 1700.27 crore for the previous financial year. Tax expense for the year is Rs 231.82 crore (previous year Rs 451.21 crore).

After making provision for tax expense, the standalone net profit for the year ended 31st March 2022 is Rs 647.34 crore as against Rs 1249.06 crore for the previous financial year.

The company’s exports for the year ended 31st March, 2022, was Rs 1779 crore as against Rs 1333 crore for the previous year ended 31st March, 2021.

Despite its best efforts, the company has been unable to recover fully the raw materials cost increases. The cost increases of raw materials are at an unprecedented level. Market conditions, after the pandemic, are also not favourable to absorb such frequent price increases.

The company will do its best to recover the cost increases in the coming months. The operations was also adversely impacted by the uncertainties posed by the COVID 19 pandemic in the early part of the year, issues connected with availability of raw materials and also challenges posed by the Ukranian war.

The Board of Directors have recommended a final dividend of Rs 144/- (1440%) per share of Rs.10 each. The company has already declared and paid two interim dividends of Rs.3/- each (30%) per share for the financial year ended 31st March,2022.

With two dividends of Rs. 3/- each paid during the above period, the aggregate dividend for the year works out to Rs 150/- ( 1500%) per share of Rs.1 0 each.

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